Innovation and Imitation: Corporate Strategies for Global Competition

Abstract

In open markets where competition is strong, innovation loses its role of ‘ideological hierarchy’ over imitation; both have the common goal of maximising company profitability, with the constraint of optimising performance results in the very short term. With these objectives and result constraints, the success of research and development activities is measured by the real improvement in the competitive supply potential, expressed by indicators such as time-to-market or patent use rate. The capacity to exploit the competition acquires prime importance, while the capacity to accumulate know-how becomes less important (for example with the traditional indicators of the number of patents per year).